So, why should you licence your work?
- A licence gives certain rights to another party in exchange for a fair return to University and academics.
- CTT UB negotiates about licensing terms with main goal of providing support to the business opportunity while getting a fair return for the inventors and the University.
- University research usually has to go a long way to creating a commercial product. This is why is so hard to determine value of the idea at the beginning. An ongoing relationship through a license allows both parties to share appropriately in any success.
- License can be exclusive (granted just to one partner) or non-exclusive (granted to multiple partners) and limited to certain fields or territories, depending on what is the best way for each case.
- CTT UB requires licensees to remain committed to the commercial development of the idea or to return their license, preventing University researches from being used simply to block the licensee’s competitors.